Thursday , 23 January 2020
Breaking News

Chevron negotiating to purchase 1400 Smith

Chevron Corp. is negotiating to purchase the 1400 Smith tower in downtown Houston for a reported $380 million. The 50-story, 1.3 million-sf building will be listed for sale with HFF if Chevron does not purchase the tower, according to Real Estate Alert. The building, known as Four Allen Center, is currently owned by Brookfield Office Properties. Chevron leases Four Allen ... Read More »

Large residential purchase in League City

Isola Ventures has purchased the 35-acre Beacon Island residential development in the South Shore Harbour development in League City, Texas, near Houston. The high-end project was formerly known as Lighthouse Island. Chemplast L.L.C. has purchased a 174,923 sf manufacturing/distribution facility on 12.78 acres located at 1002 Texas Parkway in Stafford, southwest of Houston. Beau Kaleel and Jim Foreman with Cushman ... Read More »

Texas Trades

Houston-based McGuyer Homebuilders Inc. (MHI) is acquiring Wilshire Homes, gaining Wilshire’s lots and positions in Austin and San Antonio, according to Big Builder Online. Wilshire ranks as 17th most active builder in Austin and ranks 18th in San Antonio. Read More »

$700 million project underway in Washington DC

Hines has secured 100 percent equity financing for its $700 million project underway in downtown Washington, DC. Hines is building the project in a JV with Archstone. The anchor investor is Qatari Diar Real Estate Investment. (Qatari Diar), the real estate investment arm of the Qatari Investment Authority and the financing was put in place by Barwa Bank’s investment banking ... Read More »

Lease Brief

M/I Homes has acquired TriStone Homes of San Antonio. TriStone sold 119 houses last year. Columbus-based M/I entered the Houston market last year. Identity Architects leased 5,087 square feet at the 111 Travis building, Houston, Texas. Kevin Nolan and Griffin Jaggard of Moody Rambin Interests represented the building owner, 708 Main, L.P. Griff Bandy and Jon Silberman with NAI Houston ... Read More »

The next Galleria?

Hines and Archstone will break ground next week on CityCenterDC, a mixed-use project at 11th Street and New York Avenue in Washington DC. Plans call for 458 rental units, 520,000 sf of office, 216 residential units for sale, 185,000 sf of retail, and 1,500 parking spaces. Future phases will include a hotel and additional office and retail. Read More »

Sales and Trades

Cushman and Wakefield negotiated the sale of 15 acres of commercial land at West Bellfort and West Sam Houston Parkway South to a group called 1920 Sam Houston Property, LLC. B. Kelley Parker, III; John F. Littman,; and Coe Parker of C&W represented the seller. S.E. Covington & Company represented the buyer. HFF arranged a $65 million refinancing for 5900 ... Read More »

Architecture firms are hiring again

Architecture firms are finally hiring again, thanks to a rise in multi-family construction. Architects have been hit hard by the recession and unemployment was high. Some sectors of the architecture business are still slow, but the firms that specialize in multi-family are coming back. For full story: CLICK HERE Read More »

16-property industrial portfolio trades

HFF has closed the sale of 11 industrial properties totaling 1.2 million square feet in Houston on behalf of Granite Properties. HFF represented the seller and procured the buyer, Cabot Properties. The properties are part of a larger 16-property industrial portfolio HFF marketed on behalf of Granite Properties in Houston and Dallas. The HFF investment sales team representing the seller, ... Read More »

Lease Brief

The London office of Hines, the international real estate firm, announced today that Hines Global REIT has acquired Stonecutter Court, a 153,000-sf office complex located on a full city block on Farringdon Street in London from Shalati Investments Limited. Read More »

Leasing Brief

Turkey Creek Crossing, LLC bought approximately a half-acre of land at N. Eldridge Parkway & Buffalo Bayou in Houston. David Cook and Jeff Peden of Cushman & Wakefield handled the sale. Read More »

Hines considers new CBD tower

SL Green Realty has contracted to sell 28 West 44th Street in Midtown Manhattan for $161 million, or $448 psf, to a joint venture of APF Properties and a Prudential Real Estate Investors managed fund. SL Green acquired the 359,000-sf, class B office building in 2005 for $105.5 million. McCann Realty Partners is constructing a 324-unit apartment project near the ... Read More »

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